Drugs giant GSK has delivered sales of £30.8 billion for the year, representing a 2% rise on the previous year. Operating profits for the company were £5.48 billion, up 34%.
The GlaxoSmithKline group has factories in Montrose and Irvine.
The pharmaceuticals division sales were £17.3 billion, which were flat; vaccines sales were £5.9 billion up 14% AER (annual equivalent rate), while the consumer healthcare were sales £7.7 billion, down -1% AER.
Total new respiratory product sales were £2.6 billion, up 35%, while total HIV sales were £4.7 billion, up 9%, and new product Shingrix brought in £784 million in new sales. R&D expenditure was £3,893 million (12.6% of turnover).
Four major transactions, including new Consumer Healthcare JV, were announced in 2018 to support the strategy and reshape of the group’s portfolio.
Emma Walmsley, chief executive officer, GSK said: “GSK delivered improved operating performance in 2018 with group sales growth, strong commercial execution of new product launches, especially Shingrix, continued cost discipline and better cash generation.
“It was also a significant year for the Group strategically, with the launch of a new R&D strategy focused on immunology, genetics and new technologies, together with a series of transactions that support our strategy and reshape of the Group’s portfolio.”
Pharmaceuticals sales were flat at AER but up 2% CER, driven primarily by the growth in HIV sales and the new respiratory products, Nucala and the Ellipta portfolio. This was partly offset by lower sales of Seretide/Advair and Established Pharmaceuticals. Overall respiratory sales declined 1% AER but grew 1% CER.